Romney needs to release more years of returns (Swiss bank tax evasion)
As many of you have seen, I have defended the correctness of Mitt having money in a Swiss bank -- there are legitimate reasons that have nothing to do with tax evasion.
That being said, he needs to release at least 5 years of returns due to the special situations involving Swiss banks.
It has always been a requirement that US citizens report all income from all sources; however, due to Swiss bank secrecy the banks didn't report the income to the IRS (like your local bank reports your interest on a 1099). This changed a couple of years ago.
The IRS instituted a tax amnesty at this time, which allowed people who had been hiding assets in foreign locations to avoid criminal prosecution in exchange for filing correctly and paying their taxes + interest and penalty.
Romney seems to be correctly reporting his income today (2010); however, was this always the case? Did he take advantage of a tax amnesty program to avoid criminal prosecution? Only the release of his previous returns will tell us if this was the case or not.